Nifty, Sensex dip as RBI maintains interest rates

Stock market update: Equity markets deepened their losses on Thursday following the Reserve Bank of India’s decision to keep interest rates unchanged. The central bank’s stance, which was anticipated, reflects its ongoing concern over persistently high food inflation.By 10:11 am, the NSE Nifty 50 index had dropped 0.64 per cent to 24,143.7, while the S&amp;P BSE Sensex fell 0.62 per cent to 78,945.26.Before the announcement, both indexes had already fallen by approximately 0.3 per cent.In its ninth consecutive meeting, the RBI held key policy rates steady and reaffirmed its 'withdrawal of accommodation' policy due to inflationary pressures, with a particular focus on food prices. Out of the 13 major sectors, 11 experienced declines. IT and energy stocks were among the hardest hit, each falling around 1 per cent.Conversely, Tata Motors saw a gain of about 1.6 per cent, making it the top performer on the Nifty 50. Analysts have noted that its new "Curvv.ev" model could capture market share due to its competitive pricing and superior range compared to other electric vehicles.(With Reuters inputs)

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Nifty, Sensex dip as RBI maintains interest rates

The RBI held key policy rates steady and reaffirmed its 'withdrawal of accommodation' policy due to inflationary pressures.

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